Lincoln Financial, a leading provider of insurance, annuities, group benefits and retirement solutions, has hired industry veteran Tom Morelli as Vice President, Investment Distribution. Tom Morelli, Source: Lincoln Financial. Morelli will focus on supporting the distribution of Lincoln’ s suite of more than 100 sub-advised variable insurance funds, mutual…
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"Our son sustained a horrible injury during birth that will require life-long medical care. Insurance companies issued about $2.6 billion of these specialized annuities from July to September, according to John Darer, a Connecticut structured settlement expert. Darer sees demand for structured annuities topping $9 billion this year.
MetLife, Inc. (NYSE: MET) has caught the attention of the investment community today with its bullish price action. The company’s shares have moved 5.27% on the day to $84.56. MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; Asia; Latin America; Europe, […]
Majesco, a global leader in cloud insurance technology, has once again been recognized as the top technology leader in the 2024 SPARK Matrix™ by QKS Group for both L&A and P&C Insurance Platforms, following the similar recognition in 2023. Majesco’s cloud-native platforms earned top scores across multiple parameters, reflecting its leadership and…
MetLife, Inc. and General Atlantic today announced the formation of Chariot Reinsurance, Ltd., a to-be-registered Class E Bermuda-based life and annuity reinsurance company. Going forward, MetLife Investment Management and General Atlantic will exclusively provide asset management services to Chariot Re. MetLife Investment Management, with expertise…
Widow of NYC man who jumped to his death sues brokers, insurers over annuity sales
The widow of a New York City man who committed suicide last summer by jumping off a building is suing three brokers and five companies for allegedly selling him improper annuities.
FINEOS Corporation today announced that Everest Group’ s Leading 50 TM Life& Annuity Insurance Technology Providers report has positioned FINEOS as a leader in the global life, accident and health insurance technology market for 2024.. Ultimately, the renowned research firm arrived at the Leading 50 TM Life& Annuity Insurance Technology Providers 2024,…
LIMRA: Annuity sales on track to set new record in 2024
Total annuity sales increased 23% to $331.2 billion in the first nine months of the 2024, on pace for another record-breaking year.
Allianz Life Insurance Company of North America announced today that its in-plan annuity solution will be available through the nation’ s second-largest retirement plan provider, Empower. Together with Empower, an industry leader and trusted wealth and retirement services provider with over $1.6 trillion in administered assets, Allianz Life could…
California teachers: In-plan annuity rider fees unfair; lawsuit in mediation
Several California teacher lawsuits over in-plan annuity costs has been consolidated into one case involving rider fees.
Utah issues order for A-Cap insurers to stop doing business due to reserving concerns
Utah Insurance Commissioner Jonathan T. Pike signed an order Monday barring Sentinel Security Life Insurance Co. from writing new business in the state after Dec. 31.
This collaboration marks an industry first by introducing Luma’ s advanced technology into AIN Essentials in a single sign-on environment, providing all AIN Affiliates with instant access to an unparalleled suite of resources. “By partnering with Luma, we are ensuring that AIN Affiliates have simplified access to the most advanced technology available,”…
AM Best has maintained its market segment outlook for the U.S. life/annuity insurance segment at stable, supported by strong capitalization across the industry, robust top-line growth in core lines of business and consistent profitability trends. In its Best’ s Market Segment Report,“ Market Segment Outlook: US Life/Annuity,” AM Best states that the…
Indexed products lead Q3 life, annuity sales boom, Wink reports
Despite negative publicity, indexed life and annuity sales are doing quite well with consumers.
Shares of MetLife, Inc. (NYSE: MET) traded at a new 52-week high today and are currently trading at $87.29. So far today, approximately 337.29k shares have been exchanged, as compared to an average 30-day volume of 3.21M shares. MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It […]
FIAs and RILAs post record sales in Q3
Representing 45% of U.S. annuity sales, record-high fixed indexed and registered index-linked annuity sales propelled the continued growth in the U.S. annuity market in the third quarter.
Upstream Life fights for annuity business amid ratings slide, Texas order
A small Mississippi life insurer offering the highest annuity rates in the 5-year MYGA market is drawing concerns over its financial condition.
Legal& General has completed $2.2 billion of Pension Risk Transfer business in the US this year, making 2024 its largest year on record in the US market. Legal& General completed its first Canadian PRT transaction in 2019 through its reinsurance entity, Legal& General Reinsurance. This includes Legal& General’ s largest Canadian transaction to date, valued at CAD…
Guaranty Income Life Insurance Company, a Kuvare company, has launched four new crediting options for its WealthChoice Fixed Indexed Annuity, available starting November 18th. “Our goal is to empower IMOs and their financial professionals with innovative solutions that help them serve their clients’ various retirement planning needs,” said Cary Carney, Vice…
United Life Insurance Company, a Kuvare company, has launched three new crediting options for its WealthChoice Fixed Indexed Annuity, available starting November 18th. About United Life Insurance Company. United Life Insurance Company, a Kuvare company, is a leading provider of fixed indexed annuities, specializing in flexible retirement solutions that…
